Abstract
The future workings of the Securities and Investments Board (SIB) and financial services regulation in general are a constant subject of debate. In May 1993 following his review of the SIB's operations, Andrew Large, its chairman, concluded that the ‘SIB and the regulators need to improve the system's effectiveness and confidence in it, by a more active and formal exercise of the SIB's leadership and by achieving greater transparency for the system’.
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